Pharma BD Deal Intelligence
A $520M-headline biobucks deal for a single IL-8 antibody that never left Phase 1/2 and never hit an endpoint in nine years
Full analysis, sources & comparables →Original 2012 Genmab-to-Cormorant exclusive license agreement that brought HuMax-IL8 into Cormorant's pipeline, creating the asset BMS later acquired in the…
Pharma Manufacturing emphasized the heavily back-loaded structure ($95M upfront vs $425M milestones), characteristic of early-clinical IO assets where buyers…
C&EN traced the asset's pedigree: Genmab licensed HuMax-IL8 to Cormorant in 2012; Genmab originally obtained it from Medarex (which BMS acquired for $2.4B in…
Source summaries from our enrichment pipeline; follow links for originals.
All 5 sources with sentiment breakdown →
BMS acquired Stockholm-based Cormorant Pharmaceuticals for up to $520M (undisclosed upfront cash plus contingent milestones tied to pipeline progression). Gained full rights to HuMax-IL8, an early-to-mid-stage anti-IL-8 antibody in development as a single agent and in combination with other immuno-oncology drugs. Genmab originally licensed HuMax-IL8 to Cormorant.
A $520M-headline biobucks deal for a single IL-8 antibody that never left Phase 1/2 and never hit an endpoint in nine years
Assessment window: 5yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Bristol-Myers Squibb Company / Cormorant Pharmaceuticals AB (this deal) | 2016 | $520M | 25 |
| Bristol-Myers Squibb Company / Medarex Inc. | 2009 | $2.4B | 92 |
| Bristol-Myers Squibb Company / Celgene Corporation | 2019 | $74.0B | 77 |
| Bristol-Myers Squibb Company / MyoKardia Inc. | 2020 | $13.1B | 76 |
| Bristol-Myers Squibb Company / Karuna Therapeutics | 2023 | $14.0B | 76 |
| Bristol-Myers Squibb Company / Ono Pharmaceutical Co., Ltd. | 2011 | — | 76 |
| Bristol-Myers Squibb Company / SystImmune Inc. | 2023 | $8.4B | 71 |
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More: 2016 deals · Bristol-Myers Squibb Company deals · Oncology deals